2024-03-06 09:24:21
The unemployment rate was 3.9% in January 2024, according to the National Institute of Statistics and Censuses (INEC). For January 2023, the labor indicator stood at 3.8%, that is, in the last month it rose 0.1 percentage points.
Unemployment affects women more, with a rate of 4.5%, while for men it was 3.5%. Meanwhile, the adequate employment rate went from 34.8% in January 2023 to 34.7% in January 2024, that is, there was no improvement in full employment in the last year.
People with adequate or full employment receive at least one basic salary per month and work 40 hours a week. But, this indicator does not measure whether this person is in the formal sector of the economy.
Rising underemployment
While underemployment closed in January at 20.4%, which shows an increase of 1.1 percentage points compared to the same month in 2023.
Underemployment is a type of precarious employment, in which people work less than a full day or receive less than the basic salary.
Informal employment
By January 2024, 54.6% of workers were in the informal sector of the economy. Informal employment had a slight decrease compared to the same month in 2023, when it stood at 55%, according to the National Employment, Unemployment and Underemployment Survey (Enemdu).
By: Ecuador 221